China Telecom not only spinning off businesses, also incubating startups

The incubator operated by China Telecom, one of the Big Three state-owned telecom operators, accepted its second patch of 31 teams in mid-November. Different from the first ones, this time 11 teams aren’t employees, but from outside the company.

To encourage employees to start up internet businesses, the internal startup program was launched in March this year, with 200mn Yuan as initiation capital. The required duration is two years. The company promises to keep their positions till then.

In May, e-surfing Technology Investment Ltm. was established. It’s a ‘professional incubation + mentors + angel investment model”, according to Niu Gang, vice GM of the investment entity.(source in Chinese)

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